Paul Fisher, markets director at the Bank of England, called on U.K. banks to use mortgage-backed securities to boost liquidity after the central bank’s Special Liquidity Scheme expires next January. Fisher wrote in a paper, “Much of the collateral posted under [the scheme] was residential mortgage-backed securities and residential mortgage-backed covered bonds, where conditions in the secondary and repo markets have improved since the financial market seizure beginning in 2007.”

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